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chap 7

vocab

QuestionAnswer
Monopoly Exists when competition is lacking for a product or service, or when producers are in a position to control the supply and price of goods and services
Price Discrimination setting different prices for different customers
False advertising advertising that is misleading in a material respect or in any way that could influence the customer's purchase or use of the product.
Bankruptcy A legal process that allows selling assets to pay off debts.
Paten An agreement in which the federal government gives an inventor the sole right for 20 years to make, use and sell, and invention.
Copyright similar to a patent in that the federal government gives an author the sole right to reproduce, publish, and sell literary or artistic work for the life of the author plus 70 years.
Trademark A distinguishing name, symbol, or special mark placed on a good or service that is legally reserved for the sole use owner
Information liability Resposibility for physical or economic injury arising from incorrect data or wrongful use of data.
Cookies Files of information about the user that some Websites create and store on the user's own computer
Interstate Commerce business operations and transactions that cross over state lines.
Intrastate Commerce buisness transacted within a state.
licensing A way limit and control those who plan to enter certain types of businesses
Public franchise A contract that permits a person or organization to use public propert for private profit
building codes Codes that regulate late physical features of structures.
zoning Regulations that specify which lang areas may be used for homes and which areas may be used for different types of businesses.
Created by: fishkill21
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